Sufficient activity on the LR2s has seen rates stabilize. With the fixing window moving into 3rd Decade June, an influx of cargoes is necessary for rates to improve. On the LR1s, supply seems to be outpacing demand though rates remain stable at present. What would be interesting to take note of is the impact of the Qatari diplomatic crisis and how this might affect shipping rates. Owners will try their luck and ask for a premium for Qatar-loading cargoes.
Otherwise, things are also looking rather bleak on the MRs as sentiment continues to stay stable.